Hello Everyone!
I'm "Chester", and I first of all would like to
thank all of you for making this place so awesome
and such a goldmine of information! You guys ROCK!!!
I'd like to make my first contribution , its
a swing-high/low and breakout indicator.
Swing Highs that are lower than the previous swing high
are shown as red cones going up... Swing lows that
are higher than the previous swing lows are shown
as green cones going down... It's a little counter-intuitive,
but the colors green and red mark the bullish/bearishness...
Then, when an down sloping trendline is broken, a blue breakline
on the top means a bullish reversal... On the bottom, a yellow breakline
on the bottom means a bearish reversal.
I think it is interesting that if you run this indicator right now on
the EUR/USD pair, you can see that the bluish "plateaus" are
more whole and consistent, and the yellow bearish plateaus
are mostly broken, indicating the major trend is still up
and the EUR is just going through a corrective phase the
last month or so...
I'm "Chester", and I first of all would like to
thank all of you for making this place so awesome
and such a goldmine of information! You guys ROCK!!!
I'd like to make my first contribution , its
a swing-high/low and breakout indicator.
Swing Highs that are lower than the previous swing high
are shown as red cones going up... Swing lows that
are higher than the previous swing lows are shown
as green cones going down... It's a little counter-intuitive,
but the colors green and red mark the bullish/bearishness...
Then, when an down sloping trendline is broken, a blue breakline
on the top means a bullish reversal... On the bottom, a yellow breakline
on the bottom means a bearish reversal.
I think it is interesting that if you run this indicator right now on
the EUR/USD pair, you can see that the bluish "plateaus" are
more whole and consistent, and the yellow bearish plateaus
are mostly broken, indicating the major trend is still up
and the EUR is just going through a corrective phase the
last month or so...